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Dover Petroleum (DP) is a junior oil and gas exploration company that has properties in Egypt and the United States.
Our Properties
We own the Wyoming Asset through our wholly owned
subsidiary The working and operating rights interest in the oil and gas leases cover approximately 32,000 gross acres in northwest Colorado and southwest Wyoming (the “Slater Dome Area”). A gas gathering line has been constructed and stretches over 18 miles and will collect gas from wells capable of producing gas in the Slater Dome Field. Carbon County Colorado & Moffat County Wyoming
Gulf of Suez, Egypt: The property was relinquished by British Gas in 1998, when
oil prices were in the $10 per barrel range. In 1991, British Gas drilled 1
target that produced 20,000 barrels per day of production and recovered 50
million barrels of oil from the field. It is still in production with 52 million
barrels of recoverable reserves, adjacent to DP`s project to the northeast. The Seismic data generated by British Gas identifies 12 more targets, with each target having the potential to hold 50-100 million barrels of recoverable oil. The Gulf of Suez is very developed for oil production, with 33% being the average chance of success for exploration wells. There are 40 producing fields in the Gulf of Suez. There are producing oil fields to the east and northeast of DP’s property. They include the October field with 1.5 billion barrels of recoverable oil; and several oil fields to the south of the concession (including Asfran, Rahmi and Amir) contain on estimate 700 million barrels of recoverable oil. Major oil companies like BP/Amaco, Shell, Apache, Seagull, Devon Energy and Ocean Energy are represented in the area.
Geologic Setting and Evaluation: The Gulf of Suez Sedimentary Rift Basin is rated as having the most potential of any basin in the world considering the recoverability of hydrocarbons, that is, the amount of oil actually recovered from the probable recoverable hydrocarbons per cubic meter of sediments. The thickness of the sediments in the main depositional centers might reach 30,000 feet of several excellent and widely distributed source rocks and many potential reservoirs of great petrophysical characteristics at all levels of different geologic times. The basin contains five super-giant fields that have already produced close to five billion barrels of oil since 1957 and will probably produce an additional two billion barrels. The geologic sequence can be divided into two distinct stratigraphic and structural units namely: The Pre-rifting (Pre-Miocene) system, and the Rifting (Miocene) system. A generalized stratigraphic correlation of the Gulf of Suez Rift Basin is attached. The most potential reservoirs in East Wadi Araba block are the Belayim, Kareem, Rudies and Nubia intervals. The production and potential reserves of a discovery on East Wadi Araba block is very much comparable with the Warda (Zaafarana) Oil Field, which is located on the northern part of our concession. The Warda field is producing oil from seven separate intervals in the Belayim, Kareem and Rudies formations. The field comprises 9 wells, the production had reached 20,000 barrels per day of 24-29 API oil that is probably generated from different source rocks in the region and accumulated at different times during the Late Miocene. The field’s discovery well was perforated in five intervals and tested a cumulative daily production of 6,880 barrels. Despite the low relief of the structural closure however, the field has estimated recoverable reserves of 52,000,000 barrels. The nine wells have already produced around 40,000,000 barrels since 1990 (date of discovery). The first target to drill (East Wadi Araba–1x), is a structure that is located 1.75 kilometers southwest of Warda and probably 1,500 – 2,500 feet structurally higher than Warda field (depending on the unit level). The structural area closure is less than that of the Warda field and covers 4 square kilometers. However, if successful, it might contain more than 100 million barrels of recoverable reserves due to its huge vertical structural relief. An apparent major reef build-up at the Belayim level (Nullipore Reef) is noticed on a NE-SW directed seismic line BGP-91-717 at the top of the structure. These reefal facies do not exist in the Warda field. The nearest development of that reef was encountered in Assran, Amer, Ras Gharib and Fanar oil fields that are located close to the southern portion of the concession along the shoreline. The reef build-up in Assran wells is about 750 feet of dolomites that are saturated with 10-18 API heavy oil (most likely due to the bio-degradation of the oil by contaminated underground water). The Nukhul limestone is also oil-bearing. The oil in-place is estimated to be 670 million barrels and was penetrated at less than 500 feet from surface. Using conventional production methods and horizontal drilling, the recovery factor is calculated at 10% that might reach 30% with the utilization of enhanced recovery techniques such as miscible flooding or steam injection. The producing reservoirs of Warda oil field in the Belayim, Kareem and Rudies are actually filled to the spill point; the Nubia is not producing in the field due to the lack of structural closure in the southwesterly direction. The oil in East Wadi Araba concession acreage and the surrounding fields is generated from a major depo-center to the east. This kitchen area was capable of generating huge amounts of oil as evidenced by Warda field (52 million barrels of recoverable oil) and by October field (1.5 billion barrels of recoverable oil of 42 API in the Nubia). Another important depo-center is located south of the acreage that has provided the source of 18-29 API oil accumulations in Assran, Rahmi, FF, HH, GG and Amer oil fields. The first drill location (E.Wadi Araba-1x) is structurally closed at all levels down to the basement and presents the most logical position to trap any migrating hydrocarbons in the region. Potential oil zones are anticipated in Belayim, Kareem, Rudies, Nubia and fractured Basement. The total depth to the basement is forecasted to be at 6000 feet, the water depth is maximum 22 meters and the dry hole cost is about US$1,750,000 in addition to US$500,000 for completion. The average production per well is most likely between 4,000 and 6,000 barrels per day. Five wells will be required to develop the field using two mono-podes as production bases. The production can be handled by building a 2-kilometer tie to a pipeline onshore. The second commitment well (East Wadi Araba-2X) is shown on the NW-SE directed seismic line BGT 91-630. It represents a major horst block identical to Warda field’s horst block. This block might contain recoverable reserves similar to Warda and probably much higher if the Nubia produces oil. The depth to basement will be around 7,000 feet.
Stock symbol on Pink Sheets OTC: DVPC Dover Petroleum (DP) is a new publicly
traded company that is presently focused on developing the East Wadi Araba
Concession in the Gulf of Suez, Egypt. Management: Robert P. Salna, Peter J. Moulds, Dale L. Amermine Contact Us: Dover Petroleum Corp, 10225 Yonge Street, Richmond Hill, Ontario L4C 3B2 |
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Our
mission is to identify, acquire and develop high quality oil and gas properties.
Our mandate is to focus on properties that have large reserve potential that
will maximize shareholder value.
